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FAR 12.5¢


  1. I've read the quarterly so many times but I still can't convince myself of the correct timeframe for final well results.

    Depending on your interpretation of the phrase "evaluation work program", the following statements could be read as contradictory (my emphasis added):

    1. Analysis of FAN-1 and SNE-1 well results to further evaluate the resource potential of the discoveries continues. A report including final well evaluation is expected to be released in the first quarter 2015.​
    2. The evaluation work program and plans for future exploration on the block are, as a result, not expected to be finalised until late April.​
    If "analysis of ... results to further evaluate the resource potential of the discoveries" = "evaluation work program", then there's a contradiction.

    However, if "evaluation work program" means the evaluation of work that will take place after the final results are released, no problem.

    Can anyone categorically say which is the case??

    CN says at the end of the quarterly:

    Further, work to finalise evaluation of the wells with a priority on the SNE-1 well results is expected to be completed by the end of Q1 2015.​

    That takes us back to the first Q, but unfortunately suggests it'll be the end thereof.

    Some help would be greatly appreciated...

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